Reported 16 days ago
Nike reported adjusted earnings of $0.14 per share for the fourth quarter, surpassing the estimated $0.13, and revenue of $11.10 billion, also exceeding expectations of $10.72 billion. While gross margins fell by 440 basis points due to tariffs and excess inventory, CEO Elliot Hill expressed optimism about future improvements through their 'win now actions.'
Source: YAHOO
Reported 16 days ago
Markets anticipate a more dovish Federal Reserve amid speculation that Jerome Powell may be replaced as chair by someone aligned with President Trump’s monetary policy preferences. While the Fed’s projections suggest modest rate cuts by 2026, investors predict more aggressive easing, reflecting concerns over the economy and Trump's stance on interest rates. However, experts caution that any new chair would still need to navigate consensus within the Fed to implement significant policy changes.
Source: YAHOO
Reported 16 days ago
On Yahoo Finance's The Big Idea, host Elizabeth Gore discusses with veteran Patrick Murphy how military service shapes successful entrepreneurs. Murphy highlights the skills obtained through service, particularly in leadership and problem-solving, which contribute to the effective operation of businesses. They emphasize the need for enhancing support for veterans seeking to enter the entrepreneurial space, noting the significant gap in veteran-owned startups compared to previous generations. The conversation encourages providing more resources and opportunities for veterans to leverage their experiences in business.
Source: YAHOO
Reported 16 days ago
Tesla's executive Omead Afshar has reportedly been ousted, allegedly fired just after a year in the position, amid struggles in North America and Europe. This news coincides with a rise in US stocks, particularly as the S&P 500 continues its record-setting rally. Meanwhile, Micron sees its shares fall despite reporting strong earnings, and Novo Nordisk announces a new partnership with Weight Watchers for its weight loss drug.
Source: YAHOO
Reported 16 days ago
In June, President Trump's tariffs are projected to generate over $26.7 billion in revenue, marking another potential monthly record. This figure surpasses May's revenue of about $22 billion and aligns with previous monthly totals during his second term, which have seen significant spikes compared to earlier years. With ongoing discussions about new tariffs, the finance sector anticipates that revenues could rise even further in the coming months.
Source: YAHOO
Reported 16 days ago
A potential merger between Shell and BP has been rumored, but Shell has denied these reports. While some analysts believe a combination of the two companies could enhance their valuations, the prevailing view is that Shell will not acquire BP outright. Instead, it's more realistic that BP may divest certain assets to Shell and other firms, as both companies currently have low valuations compared to their peers.
Source: YAHOO
Reported 16 days ago
Senate Republicans are utilizing a contentious budget method known as the 'current policy baseline' to obscuredly account for $3.8 trillion in debt associated with President Trump's Big Beautiful Bill. This accounting approach treats the extension of current tax rates as cost-free despite their impending expiration, potentially leading to an increase in the national debt by trillions if enacted. Economists have criticized this maneuver as an 'egregious budget gimmick,' highlighting that the real cost to the national debt could be as high as $4.2 trillion when assessed with standard accounting practices. As Senate leaders push for imminent votes, they face internal disputes over the bill's financial implications.
Source: YAHOO
Reported 16 days ago
The economic impact of President Trump's tax bill remains debated, with the White House Council of Economic Advisers projecting a $2.3 trillion deficit reduction, while the Congressional Budget Office warns it could add $2.4 trillion over the next decade. Stephen Moore, chair of the CEA, argues that the CBO's analysis overlooks potential economic growth and revenue from tax incentives, tariff collections, and spending cuts, suggesting overall deficit reductions could range from $8.5 to $11 trillion.
Source: YAHOO
Reported 16 days ago
President Trump may accelerate the announcement of a new Federal Reserve chair as his dissatisfaction with current chair Jerome Powell's slow approach to rate cuts grows. Potential candidates include Treasury Secretary Scott Bessette and former Fed governor Kevin Warsh, among others. Trump’s consideration reflects efforts to influence monetary policy and investor expectations ahead of Powell’s term expiration in May.
Source: YAHOO
Reported 16 days ago
White House Council of Economic Advisers chairman Stephen Miran anticipates that while negotiations may lead to some trade deals before the July 9 tariff deadline, most countries will continue to face a standard tariff rate of 10%, with no significant reductions expected overall. He emphasizes that tariff revenues are crucial for the U.S. economy and suggests that countries making concessions could lower tariffs slightly, but such instances will not affect the aggregate level considerably.
Source: YAHOO
Reported 16 days ago
U.S. stocks climbed on Thursday, with the S&P 500 nearing its first record close since February as bets on interest rate cuts increased. The Dow and Nasdaq also rose, driven by optimism surrounding President Trump's potential replacement for Federal Reserve Chair Jerome Powell. Meanwhile, the dollar fell to its lowest level since April 2022 amid concerns over tariffs and a weak labor market.
Source: YAHOO
Reported 16 days ago
Federal Reserve Bank of Richmond President Thomas Barkin stated that tariffs are likely to increase inflation in the coming months, although he expects the impact to be less significant than during the pandemic. He noted that businesses may pass on some of the increased import taxes, but consumers might shift away from tariffed goods, which could mitigate some inflation pressures. Barkin emphasized that the Fed is monitoring the economic outlook while keeping interest rates steady for now, with potential rate cuts discussed for future meetings.
Source: YAHOO
Reported 16 days ago
A Republican effort to cut $250 billion from Medicaid and other healthcare expenditures encountered a procedural setback in the Senate, complicating the passage of Donald Trump's tax and spending package. Senate rules deemed significant healthcare provisions ineligible for expedited processing, prompting Republican leaders to rework the bill. This ruling, while acknowledging the Senate's concerns, raises tensions within the party, especially among conservatives opposing the bill's cost.
Source: YAHOO
Reported 16 days ago
Marc Benioff, CEO of Salesforce, revealed in a recent interview that AI is currently managing 30% to 50% of the company's internal tasks, affecting roles like software engineering and customer service. As technology leaders emphasize the labor-replacing potential of AI, Salesforce's advancements have led to reduced hiring, while their AI tools demonstrate high accuracy in customer service applications. Benioff encourages adapting to the evolving landscape, suggesting that AI enables employees to focus on higher-value work.
Source: YAHOO
Reported 16 days ago
The discussion highlights the potential influence of a 'shadow Fed chair,' such as Christopher Waller, over the current Fed chair Jerome Powell, particularly regarding speculation about interest rate cuts. Analysts suggest that while Powell may maintain a steady approach, investors are increasingly responsive to comments from potential future chairs, as these can substantially sway market expectations and pricing. This dynamic indicates a shift in focus towards future policies amid evolving inflation rates.
Source: YAHOO
Reported 16 days ago
Shell和Equinor宣佈他們在英國的合資企業將名為Adura，這一合資項目預計在未來五年內將產量從每年約140,000桶油當量提高到超過200,000桶油當量。Adura結合了阿伯丁（英國石油產業中心）和耐用性的概念，兩家公司各持有該合資企業的50%股份，並計劃在年底前啟動，需待監管批准。
Source: YAHOO
Reported 16 days ago
Wall Street analysts predict that large U.S. banks will gain up to $6 trillion in additional balance sheet capacity and significant capital relief from the Federal Reserve's proposed easing of leverage rules. Approved by a 5-2 vote, this plan aims to link capital requirements directly to each bank's role in the global financial system, potentially increasing liquidity in the Treasury market and enhancing banks' participation.
Source: YAHOO
Reported 16 days ago
Source: YAHOO
Reported 16 days ago
McCormick has reported earnings that surpassed analyst predictions, driven by an increase in volume and product mix across its global markets. The company affirmed its full-year outlook, stating that it has strategies in place to offset the rising costs associated with tariffs, while also expecting a revenue increase. Following the announcement, McCormick's shares rose by 5%, reflecting positive investor sentiment.
Source: YAHOO
Reported 16 days ago
President Trump is narrowing down his choices for a replacement for Federal Reserve Chair Jerome Powell, revealing he has three or four candidates in mind. Potential nominees include Kevin Warsh, Kevin Hassett, Scott Bessent, David Malpass, and Christopher Waller. The announcement of his pick could come soon, possibly by September or October, as Trump seeks to undermine Powell's authority amid rising tensions regarding monetary policy and rate cuts that Trump advocates for. Although a White House official stated that no decisions are imminent, Trump continues to express frustrations with Powell publicly.
Source: YAHOO
Reported 16 days ago
BlackRock is set to diversify retirement plans by including private assets, marking a shift towards alternative investments. Planned for the first half of 2026, a new target-date fund will incorporate private equity and credit, aiming for allocations of 5% to 20% based on investors' age. This initiative, supported by Great Gray Trust, seeks to enhance annual returns while addressing concerns over liquidity and transparency.
Source: YAHOO
Reported 16 days ago
The White House is advocating for President Trump's 'One Big Beautiful Bill Act', claiming it could result in significant economic growth and deficit reduction, with projected increases in GDP and investment. However, these projections have been met with skepticism from independent economists, who estimate much lower economic growth and higher deficit impacts. As the Senate debates the bill, GOP leaders face challenges in securing votes amid concerns over costs and tax provisions.
Source: YAHOO
Reported 16 days ago
Contracts for the purchase of previously owned homes in the U.S. rose 1.8% in May, surpassing forecasts of a 0.1% increase, according to the National Association of Realtors. Despite this uptick, high mortgage rates continue to limit buyer activity. Pending home sales also showed a 1.1% increase from the previous year, bolstered by steady job growth and rising wages, though mortgage fluctuations remain a significant factor in homebuying decisions.
Source: YAHOO
Reported 16 days ago
The Financial Action Task Force (FATF), an international financial crime watchdog, has called on nations to strengthen measures against illegal finance within cryptocurrency markets. Despite some progress in regulation since 2024, many jurisdictions still struggle with compliance, risking global repercussions due to the borderless nature of virtual assets. The FATF highlighted the use of stablecoins in illicit activities and reported that ambiguous regulatory frameworks continue to impede the identification of those behind crypto transactions.
Source: YAHOO
Reported 16 days ago
Palantir Technologies has announced a strategic partnership with The Nuclear Company to develop software aimed at enhancing the construction of nuclear power plants, responding to the rising demand for electricity required by artificial intelligence data centers. This collaboration comes as President Trump advocates for increased nuclear power generation to maintain the U.S. leadership in AI. Palantir's shares have surged nearly 95% this year as the company positions itself at the forefront of this new energy initiative.
Source: YAHOO